SEAMEC Limited has announced a major multi-year charter hire agreement with its promoter company, HAL Offshore Limited, strengthening its long-term revenue visibility. The contract details were disclosed in a regulatory filing on Thursday.
According to the filing, SEAMEC has signed a contract to deploy its Multi Support Vessel SEAMEC Agastya (formerly NPP Nusantara) under HAL Offshore’s ongoing ONGC project. The vessel will be chartered post-completion of its statutory dry dock.
The company confirmed a charter hire rate of USD 25,000 per day for the remaining four years of the five-year arrangement. The total charter value is estimated at USD 43.07 million, inclusive of GST.
Since HAL Offshore holds 70.77% stake in SEAMEC, the agreement qualifies as a Related Party Transaction, though the company clarified it has been executed on an arm’s-length basis and in the normal course of business.
The disclosure, made under SEBI’s Listing Obligations and Disclosure Requirements, outlines that the contract became effective on December 04, 2025 at 14:33 hours.
The vessel deployment under ONGC operations ensures SEAMEC a stable revenue stream through the charter period.
